New Visa For Entrepreneurs; Business Aid Reform

Entrepreneurs could get new type of visa to live in Finland - while businesses could see big changes in the way they get aid from the government.

File photo.

There are new ideas in the pipeline that could help reform the way Finnish business get support from the government; and to encourage entrepreneurs to come to Finland

Reform Working Group

The government has set up a new working group to look at how to reform business aid.

The aim is to make business support systems more clear, better for productivity, and more cost-effective for government finances.

Minister of Economy Mika Lintilö (Centre) will chair the new working group, which will also include a representative of each parliamentary group, and experts from business groups.

The working group aims to complete the assessment and recommend some changes, at the end of February 2018.

Entrepreneur Visas

Meanwhile the government is also proposing a new category of residence permits for entrepreneurs.

The Finnish Immigration Service Migri would issue a residence permit for startups valid initially for two years, but it would be Tekes – the agency responsible for funding innovations – which would evaluate the business during that time, and see if the entrepreneur qualified for a visa extension to remain in the country.

According to the Ministry of the Interior, Tekes has a solid knowledge of startup culture, so it would be appropriate for them to assess whether the applicants business would meet the requirements for potential international growth.

One major change – the Finnish Immigration Service would no longer investigate whether an applicant’s livelihood is secured and whether the granting of authorization may be impeded by national security.

It would take several weeks for a residence permit to be issues, the Interior Ministry estimates.